Finance & economics | To protect and to swerve

China’s leaders ponder an economy without lockdowns—or crackdowns

Will market-friendly slogans turn into market-friendly policies?

People ride scooters on a street in the Jing'an district in Shanghai, on December 8, 2022. - China announced a nationwide loosening of its hardline Covid restrictions that had hammered the world's second biggest economy and ignited rare protests against the ruling Communist Party. (Photo by Hector RETAMAL / AFP) (Photo by HECTOR RETAMAL/AFP via Getty Images) — Image: AFP

Dec 20th 2022|Hong Kong

Each december the leaders of China’s Communist Party gather to discuss their “economic work” for the year ahead. The lengthy statement they then release to the public provides a clue to their thinking and priorities. But by the time the leaders met on December 15th and 16th in Beijing, the most fateful economic choice of the next 12 months had already been made.

This article appeared in the Finance & economics section of the print edition under the headline “Zero zero-covid”